TC Energy (TSE:TRP) Price Target Raised to C$70.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target boosted by CIBC from C$68.00 to C$70.00 in a research note released on Thursday morning,BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

TRP has been the subject of several other research reports. Royal Bank of Canada raised their target price on TC Energy from C$67.00 to C$71.00 in a research report on Friday, November 8th. BMO Capital Markets boosted their target price on shares of TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th. JPMorgan Chase & Co. increased their target price on shares of TC Energy from C$70.00 to C$79.00 in a research report on Monday, November 18th. Wells Fargo & Company boosted their price target on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday, November 20th. Finally, Raymond James raised shares of TC Energy to a “hold” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$69.92.

TC Energy Stock Down 2.3 %

TSE TRP opened at C$67.31 on Thursday. The firm has a 50-day simple moving average of C$67.57 and a 200 day simple moving average of C$62.40. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The stock has a market cap of C$70.00 billion, a PE ratio of 20.34, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The business had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, research analysts forecast that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a dividend yield of 6.61%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is presently 116.01%.

Insider Activity

In related news, Director Alexander (Alex) Oehler bought 6,540 shares of the company’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of C$66.05 per share, for a total transaction of C$431,947.64. Also, Director Jawad Masud sold 5,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$66.50, for a total transaction of C$332,500.00. Insiders sold a total of 420,911 shares of company stock valued at $28,259,105 in the last ninety days. 0.03% of the stock is owned by insiders.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.